CryoLife to Acquire Jotec
October 10, 2017—Jotec GmbH, an endovascular medical device company based in Hechingen, Germany, and CryoLife, which is based in Kennesaw, Georgia, announced an agreement under which CryoLife will acquire Jotec for $225 million dollars, consisting of 75% in cash and up to 25% in CryoLife common stock issued to Jotec’s shareholders. The acquisition will create an international company with more than 1,000 employees dedicated to the field of medical products for cardiovascular surgery.
Founded in 2000, Jotec offers a portfolio of surgical vascular prostheses and stent graft systems for the treatment of aortic diseases. The products are marketed in Germany, Italy, Spain, Poland, Austria, Switzerland, Brazil, and the United Kingdom via direct sales representatives and in other countries through distributors. Jotec's Hechingen location will be maintained and expanded in the medium and long term, and the Jotec brand will be retained, advised the companies.